Reply #55: Barrick Gold to Buy Placer Dome for $10.4B

[cosmicdot]

Poppy's buddies


NEW YORK - Toronto-based Barrick Gold Corp., the world's No. 3 gold producer, agreed on friendly terms to acquire Placer Dome Inc. after raising its offer for the Vancouver gold producer to $10.4 billion, the companies said Thursday. That deal prompted Vancouver-based gold producer Goldcorp Inc. to buy certain mining assets from Barrick for just under $1.49 billion in cash.

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The new $10.4 billion offer replaces Barrick's last offer of about $9.4 billion that had been rejected by the board of Placer Dome, the world's sixth-largest gold mining company. Under the agreed to terms, Placer shareholders will get either $22.50 in cash or 0.8269 of a Barrick common share plus 5 cents cash per share. Barrick, Canada's biggest gold miner, has limited its cash for the offer at $1.34 billion and shares to be issued at 333 million.

Placer's board unanimously backed the new offer.

~snip~

http://news.yahoo.com/s/ap/20051222/ap_on_bi_ge/barrick_placer_dome_9

Known knowns on Barrick's International Advisory Board:
The Right Honourable Brian Mulroney, P.C., LL.D.
William Cohen, Clinton's Defense Secty
Vernon E. Jordan - Clinton's DC insider friend
Andrew Young
http://www.barrick.com/files/docs_annual/2004_Shareholder%20Information.pdf